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Tax rebates & offsets

Low Income Tax Offset | Senior Australians' and Pensioner Tax Offset | Mature Age Worker Tax Offset | Medical Expenses Offset Dependant (Invalid and Carer) Tax Offset
 

Various rebates and tax offsets apply to reduce an individual's income tax. These tables summarise the tax offsets for senior Australians, pensioners, mature age workers, medical expenses and tax offsets for low income earners.

Low income tax offset

Low income tax offset 2012-13 & 2013-14

Taxable income

Offset amount

$0 - $37,000

$445

$37,001 - $66,666

$445 less (1.5% of excess over $37,000)

$66,667 and above

Nil

Low income tax offset 2015-16

Taxable income

Offset amount

$0 - $37,000

$300

$37,001 - $66,999

$300 less (1% of excess over $37,000)

$67,000 and above

Nil


Senior Australians and Pensioners Tax Offset

From July 1, 2012, the pensioner tax offset merged with the senior Australians' tax offset, with the new offset known as SAPTO. The figures listed below are for 2012-13.

Family status (pensioner) Maximum tax offset per person Shade-out rebate income threshold Cut-out rebate income threshold
Single $2,230 $32,279 $50,119
Married or defacto $1,602 $57,948* $83,580*
Couple seperated due to illness $2,040 $62,558* $95,198*

* Combined

The ‘Maximum Offset’ reduces by 12.5 cents for every dollar of taxable income over the ‘Lower Threshold’ and reduces to nil for taxable income levels at or above the ‘Upper Threshold’.

Mature Age Worker Offset

Eligibility for the mature age worker tax offset is confined to taxpayers born before July 1, 1957.

Mature age worker tax offset (MAWTO) 2012-13

Net income from working

Entitlement to MAWTO

Less than $10,000

5% x net income from working

$10,000 - $53,000

$500

$53,001 - $62,999

$500 - [5% x (net income from working - $53,000)]

$63,000 and over

Nil

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Net Medical Expenses Offset

The offset rate is based on adjusted taxable income.
The thresholds are $84,000 for singles or $168,000 for a couple or family.
The family threshold will increase by $1,500 for each dependent child after the first. In order to claim tnis offset in the 2013-14 year, a taxpayer must have claimed the offset in the 2012-13 year. This additional requireemnt however does not apply to disability aids, attendant care or aged care expenses.
NOTE: The offset is to be phased out entirely by July 1, 2019, subject to the passage of legislation.

Net Medical Expenses Offset 2012-13 & 2013-14

2012-2013

Offset below thresholds is 20% of excess over $2,120
Offset above thresholds is 10% of excess over $5,000

2013-2014

Offset below thresholds is 20% of excess over CPI adjusted limit
Offset above thresholds is 10% of excess over $5,000

Last reviewed 2/08/2013

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Dependant (Invalid and Carer) Tax Offset

From 2012-13, the Dependant (Invalid and Carer) Tax Offset replaces several other offsets, including the invalid spouse, carer spouse, housekeeper, housekeeper (with child), child‑housekeeper, child‑housekeeper (with child), invalid relative and parent/parent‑in‑law tax offsets. See details here.

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